RH Petrogas Limited ("RHP") is engaged in exploration, development and production of oil and gas resources. RHP's first oil and gas project is a Production Sharing Contract ("PSC") with China National Petroleum Corporation to jointly develop and produce hydrocarbon resources in Fuyu 1 Block in the Songliao Basin, Jilin Province, the PRC.
In West Papua, Indonesia, RHP has a total of 60 percent of the Basin PSC and 33.2 percent of the Island PSC. The Basin & Island PSCs are two contiguous blocks located in the 'Birds Head' area of West Papua, Indonesia, occupying a total area of approximately 2,000 sq km onshore and offshore and has a net production of 4,200 boepd.
In December 2012, RHP successfully completed the signing of Block SK331, onshore Sarawak Malaysia.
In Block SK331 PSC, RHP holds 80 percent whilst Petronas Carigali holds the remaining 20 percent. The PSC covers a large onshore concession area of 11,600 sq km and is the onshore extension of Balingian Basin which contains oil & gas fields.
With these new developments, RHP currently have a total of four oil & gas assets and aims to increase current production of 4,380 barrels of oil equivalent per day (boepd) rapidly.
These projects provide an excellent platform for the Group to expand into the robust Asian oil and gas market. The Group is continuing to explore more opportunities to strengthen its position in the energy sector.
RHP aspires to be a leading independent oil and gas company in the region.